CBOE Withdraws Application To Launch Bitcoin ETF

Cboe Submits New Application To Launch Bitcoin ETF

Chicago-based CBOE BZX has decided to temporarily withdraw its application to be added to the list of Bitcoin ETF trading instruments supported by VanEck and SolidX.

This is stated in notification, released Wednesday by the US Securities and Exchange Commission (SEC). The official document does not indicate the reasons, but representatives of the CBOE and bitcoin trust VanEck SolidX argue that such measures are temporary, and the decision was made due to a partial shutdown of the government. Therefore, when the situation stabilizes, they will re-apply to launch a physically supported Bitcoin ETF..

Many experts believe that in the current situation, the SEC, which cannot function normally and is skeptical about cryptocurrency, would most likely reject the application than allow its technical approval. As a reminder, the regulator has been considering the proposal since June 2018 and has used all available opportunities to delaying the process, but February 27 was the deadline for making the final decision.

CBOE Withdraws Application To Launch Bitcoin ETF

Executives at VanEck and SolidX say they continue to actively partner with the SEC and major market players to build the necessary infrastructure to launch a cryptocurrency exchange-traded fund. The price of each share of the trust is $ 200,000, which, according to them,, confirms seriousness of their intentions and orientation towards institutional investors.

While CBOE is being extremely cautious, another Chicago-based exchange, Seed CX, has begun trading bitcoins in its spot market.

text: Ivan Malichenko, photo: static2.businessinsider

CBOE Withdraws Application To Launch Bitcoin ETF

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